My article from Tuesday sums it up: Nobody can touch Apple today. It's a great company with great products that require iterations, not overhauls. There's nothing uncertain about Apple's present dominance; even as headline after headline misinterprets Samsung's apparent lead over iPhone.

It's bad enough that he's pulling out all the stops to satisfy the same people Steve Jobs viewed as pests. Not only did Cook capitulate to shareholder demands with the original dividend and buyback, he turned his nose to the Apple way twice as hard by taking out debt to finance an even bigger return of cash to investors.

Tim Cook has done nothing to address the concerns that will dictate Apple's long-term fate. He inspires about as much confidence as the imprecise James Balsillie did back in the days of BlackBerry's implosion.

If you're trading this move in AAPL, fantastic. Just be careful. Trading burns lots of people. Don't confuse it with investing. And don't confuse AAPL with an investable stock. Questions about Apple's ability to innovate without Steve Jobs loom as large at $440 as they did at $385.

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